Hi @64eheh ... Been away a month or so so only just catching up with the many 'tags'. Going way was another reason for taking some profits on NHC when I posted that reference posting. Anyway, clearly my suggestion(early warning) of a Broadening Topping Pattern in play was wrong. However, as shown below (and in my original chart back in mid July), NHC did need to see a close below the then high of Pt.1($3.92). Altho it traded below that on one day it never closed below it. Additionally, the slow MACD I had attached actually gave a warning that the Pattern could/would fail as it did break the DTL and, indeed used that breakout level as suppt for this current rally.
As to your referral of a 20/50 MA's crossover being good, I assume you had to mean on a Weekly Chart, as the Daily certainly doesn't support your entry timing and level. Couldn't really find any standout simple 'straight-edge' TL's for NHC but have attempted to show some on my chart below to support your statement.(I did try it on a log chart to see if they were better but non).
Anyway, regardless, I clearly have lost some profit and position since making that "sell 50%" decision prior to going away.
Do you have any ideas(targets) for upside from here? I have now 'revised ' mine... maybe as low as $5.56/68 or as high as $6.28.
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Last
3,665.0 |
Change
17.900(0.49%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 3,647.1 | 3,672.2 | 3,630.0 |
| XSO (ASX) Chart |